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Estate planning is often considered something you only need to worry about once you get married. But the reality is every adult, regardless of age, income level, or marital status, needs to have some fundamental planning strategies in place if you want to keep the people you love out of court and out of conflict.

In fact, estate planning can be even more critical for unmarried couples. Even if you’ve been together for decades and act just like a married couple, you likely aren’t viewed as one in the eyes of the law. And in the event one of you becomes incapacitated or when one of you dies, not having any planning in place can have disastrous consequences.

If you’re in a committed relationship and have yet to get—or even have no plans to get—married, the following estate planning documents are an absolute must:

1. Wills and trustsIf you’re unmarried and die without planning, the assets you leave behind will be distributed according to California’s intestacy laws to your family members. These laws provide NO protection for your unmarried partner. Given this, if you want your partner to receive any of your assets upon your death, you need to—at the very least—create a will.

However, a will is not always the best option. First and foremost, wills do not operate in the event of incapacity. Moreover, a will requires probate, a court process that can take quite some time to navigate. And finally, assets passed through a will go outright to your partner, with no protection from creditors or lawsuits. To protect those assets for your partner, you’ll need a different planning strategy.

A better option may be to place the assets you want your partner to inherit in a living trust. First off, trusts can be used to transfer assets in the event of your incapacity, not just upon your death. Trusts also do not have to go through probate, saving your partner precious time and money.

What’s more, leaving your assets in a continued trust that your partner could control would ensure the assets are protected from creditors, future relationships, and/or unexpected lawsuits.

2. Durable power of attorney

When it comes to estate planning, most people focus only on what happens when they die. However, it’s just as important—if not even more so—to plan for your potential incapacity due to an accident or illness.

If you become incapacitated and haven’t legally named someone to handle your finances while you’re unable to do so, the court will pick someone for you. And this person could be a family member who doesn’t care for or want to support your partner, or it could be a professional guardian who will charge hefty fees, possibly draining your estate.

Since it’s unlikely that your unmarried partner will be the court’s first choice, if you want your partner (or even a friend) to manage your finances in the event you become incapacitated, you would grant your partner (or friend) a durable power of attorney.

Durable power of attorney is an estate planning tool that will give your partner immediate authority to manage your financial matters in the event of your incapacity. He or she will have a broad range of powers to handle things like paying your bills and taxes, running your business, collecting government benefits, selling your home, as well as managing your banking and investment accounts.

Next week, I’ll continue with part two in this series on must-have estate planning strategies for unmarried couples.

If you’re an animal lover and have a pet of your own, you likely consider your pet to be a member of the family. And since your furry friends can provide protection, emotional support, and unconditional love, such consideration is often well deserved.

In stark contrast, the law considers your pet nothing more than personal property. That means that without plans in place, your pet will be treated just like your couch or vacuum in the event of your death or incapacity.

For example, if you die without including any provisions for your pet’s care in your estate plan and none of your family or friends volunteer to take your pet in, your faithful companion will likely end up in an animal shelter.

While you can leave money for the care or your pet in a will, there will be no continuing oversight to ensure your pet (and the money you leave for its care) will be cared for as you wish. Indeed, the person named as pet guardian in your will could drop the animal off at the shelter and use the money to buy a new TV—and face no penalties for doing so.

What’s more, a will is required to go through a court process known as probate, which can last for years and leave your pet in limbo during that entire time. And a will only goes into effect upon your death, so if you’re incapacitated by accident or illness, it will be useless for protecting your pet.

Pet trusts
Given these limitations, the best way to ensure your animal companions are properly taken care of in the event of your death or incapacity is to create a pet trust.

Pet trusts go into effect immediately and allow you to lay out detailed, legally binding rules for how the funds in the trust can be used. Pet trusts can cover multiple pets, work in cases of incapacity as well as death, and they remain in effect until the last surviving animal dies.

Here are a few of the most important things to consider when setting up a pet trust:

Caregivers: The most important decision when creating a pet trust is naming the caretaker. The caretaker will have custody of your pet and is responsible for your pet’s daily care for the remainder of your pet’s life. As with naming a guardian for your children, make certain you choose someone you know will watch over and love your pet just as you would.

Consider the caretaker’s physical ability—naming someone elderly to raise your Great Dane puppy might be asking too much. Also make certain your pet fits in with the caretaker’s family members and other pets. In case your first-choice for caretaker is unable to take in your pet, name at least one or two alternates. If you don’t know any suitable caregivers, there are a variety of charitable groups that can provide for your pet if you’re no longer able to.

Trustees: Trustees are tasked with managing the trust’s funds and ensuring your wishes for the animal’s care are carried out in the manner the trust spells out. The caretaker and the trustee may be the same person or the roles can be divided between two different people.

Caretaking instructions: You may also want to include caretaking instructions such as your pet’s basic requirements: dietary needs, exercise regimen, medications, and veterinary care. Be sure you think about all of your pet’s future needs, including extra services like grooming, boarding, and walking.

Funding: When determining how much money to put aside for your pet’s care, you should carefully consider the pet’s age, health, and care needs. Remember, you’re covering the cost of caring for the animal for the rest of its life, and even basic expenses can add up over time.

Like me, you probably spent lots of time with family and friends over the holidays. And I hope, like me, that time reminded you of just how important and special these relationships can be.

Though you might not realize it, estate planning has the potential to enhance those relationships in some major ways. Planning requires you to closely consider your relationships with family and friends—past, present, and future—like never before. Indeed, the process can be the ultimate forum for heartfelt communication, fostering a deeper bond and sense of intimacy, and prioritizing what matters most in life.

Here are just a few of the valuable ways estate planning can improve the relationships you cherish most:

1) It shows you sincerely care
Taking the time and effort to carefully plan for what will happen to you in the event of your incapacity or death is a genuine demonstration of your love. It would be far easier to do nothing and simply let you family and friends figure it out for themselves. After all, you won’t be around to deal with any of the fallout.

Planning in advance, though, shows that you truly care about the welfare of your loved ones. Such selfless concern and forethought equates to nothing less than a final expression of your unconditional love.

2) It inspires honest communication about difficult issues
Sitting down and having an honest discussion about life’s most taboo subjects—incapacity and death—is almost certain to bring you and your loved ones closer. By facing immortality together, planning has a way of highlighting what’s really important in life—and what’s not.

In fact, our clients consistently share that after going through our estate planning process they feel more connected to the people they love the most. And they also feel clearer about the lives they want to live during the fleeting time we have here on earth.

Planning offers the opportunity to talk openly about matters you may not have even considered. When it comes to choices about distributing assets and naming executors and trustees, you’ll have a chance to engage in frank discussions about why you made the choices you did. And that may just be the first step in actively addressing and healing any problems that may be lurking under the surface of your relationships.

3) It builds a deep sense of trust and respectWhether it’s the individuals you name as your children’s legal guardians or those you nominate to handle your own end-of-life care, estate planning shows your loved ones just how much you trust and admire them. What greater honor can you bestow upon another than putting your own life and those of your children in their hands?

Though it’s often challenging to verbally express how much you love your family and friends, estate planning demonstrates your affection in a truly tangible way. And once these people see exactly how much you value them, it can foster a deepening of your relationship with one another.

4) It creates a lasting legacyWhile estate planning is primarily viewed as a way to pass on your financial wealth and property, it can offer your loved ones much more than just financial security. When done right, it also lets you hand down the most precious assets of all—your life stories, lessons, and values.

In fact, the wisdom and experience you’ve gained during your lifetime are among the most treasured gifts you can give. Left to chance, these gifts are often lost forever. Considering this, our planning process includes a means of preserving and passing on these intangible assets.

We guide clients to create a customized video in which they share their most insightful memories and experiences with those they’re leaving behind. This not only ensures our clients are able to say everything that needs to be said, but that their legacy carries on long after they—and their money—are gone.

The heart of the matter
Estate planning doesn’t have to be a dreary and depressing affair. When done right, it can put your life and relationships into a much clearer focus and ultimately be a tremendously uplifting experience for everyone involved. Contact us today to learn more.

It’s common for families of those with Alzheimer’s and other forms of dementia to realize that at some point, their loved one shouldn’t be allowed to drive. But fewer people are aware they should exercise the same level of caution when it comes to restricting their loved one’s access to firearms.

This was one of the findings of a May 2018 study published in the Annals of Internal Medicine covering firearm ownership among Alzheimer’s patients. The study noted that even though 89% of Americans support restricting access to firearms for those with mental illness, there’s been little attention focused on limiting firearm access among elderly dementia patients.

Indeed, there are currently no federal gun laws prohibiting the purchase or possession of firearms by persons with dementia. And only two states—Hawaii and Texas—have laws restricting gun access for dementia patients.

A ticking time bombThis lack of attention comes despite an increasing number of incidents involving elderly dementia patients shooting and killing family members and caregivers after confusing them for intruders. And with so many Baby Boomers now entering retirement age, this dangerous situation could get much worse.

In fact, the number of people with dementia is expected to double to around 14 million in the next 20 years, with the vast majority of those over age 65. Since nearly half of people over 65 either own a gun or live with someone who does, it’s clear that firearm safety should be a top priority for those with elderly family members—even if they don’t currently have any signs of dementia.

That said, just talking about restricting someone’s access to guns can be highly controversial and polarizing. Many people, especially veterans and those in law enforcement, consider guns—and their right to own them—an important part of their identity.

Given this, the study’s authors recommended that families should talk with their elderly loved ones early on about the fact that one day they might have to give up their guns. Physicians suggest bringing up the topic of firearms relatively soon after individual’s initial dementia diagnosis.

This discussion should be like those related to driving, acknowledging the emotions involved and allowing the person to maintain independence and decision control for as long as it’s safe. Even though this can be a very touchy subject, putting off this discussion can literally be life threatening.

All part of the planSince it relates to so many other end-of-life matters, this discussion should take place as part of the overall estate planning process. One way to handle the risk is to create a separate “gun trust,” an estate planning tool specially designed to deal with the ownership of firearms.

Such a trust allows the gun owner to name a trusted family member or friend to take ownership of their firearms once they’re reached a certain age or stage of dementia. In this way, the process may seem more like passing on a beloved family heirloom and less like giving up their guns.

Moreover, the transfer of certain types of firearms must adhere to strict state and federal regulations. Unless the new owner is in full compliance with these requirements, they could inadvertently violate the law simply by taking possession of the guns.

With a gun trust, the firearm is legally owned by the trust, so most of the transfer requirements are avoided, making it a lot easier for family members to manage access after the original owner’s death or incapacity.

Indeed, gun trusts can be a valuable planning strategy even for gun owners without dementia. Speak with us to see if a gun trust would be a suitable option for your family.

The authorities just notified you that you have 20 minutes to evacuate your home before a raging wildfire cuts off the exit from your neighborhood, leaving you trapped.

The fire is advancing at the rate of a football field every second, so the actions you take in the next few moments will determine whether you and your family can get to safety or not.

While this may sound like a scene from a blockbuster disaster movie, it’s the very scenario faced by many California families recently. And it’s a possibility we should all be ready to face.

Be ready to goI’ve always believed the responsibility for protecting my family lies squarely with me. I may not be able to count on, or in the worst of circumstances even hope for, outside help. If I can’t shelter in place and protect my family, evacuation is my Plan B. And as the recent wildfires should remind us all, when you have mere minutes to evacuate, you won’t have time to think about what you should bring with you to survive the days—or weeks—to come.

To be optimally prepared, have a “go-bag” on-hand packed with the essential items needed to survive for AT LEAST three days following a disaster. While numerous online retailers sell fully equipped go-bags for such emergencies, and both FEMA and the American Red Cross provide checklists to help you pack your own, I’m providing a basic summary of the most-recommended supplies here.

1) ID and other essential documents: Bring copies of your passport, driver’s license, and/or state ID card and store them in a sealed Ziplock bag. Other documents to consider packing include the deed to your home, vehicle titles/registration, printed maps, and a recent family photo with faces clearly visible for easy identification.

2) Cash: Carry at least $250 in relatively small bills and keep it with your ID in a waterproof bag.

3) Shelter: A lightweight tent, along with mylar emergency blankets can help keep you warm and dry no matter where you must spend the night.

4) Water and filter: One gallon of water per person per day is a good estimate of needs. Bring as much bottled water as possible, but also include a water purification straw and/or purification tablets, along with a steel container to boil water in.

5) A multi-tool: These modern-day cousins to the Swiss Army knife come with a wide array of essential tools, from a knife and screwdriver to tweezers and a can opener.

6) First-aid kit and prescription medications: Whether you buy one ready-made or pack your own, the likelihood of injury skyrockets in the wake disasters, so not having a first-aid kit can make a bad situation worse. And don’t forget to include prescription medications and other life-sustaining medical supplies if needed.

7) Light: Flashlights with extra batteries are great, but headlamps are even better because they’re ultra-compact and leave your hands free.

8) Fire: Fire can keep you warm, purify water, and cook food. I keep a plasma lighter, waterproof matches, a small portable stove, fuel and tinder in my personal go-bag.

9) Solar-powered emergency radio and cellphone charger: Without power, you’ll need a way to stay in touch with the outside world. Today you can find devices that include a combination radio, cell-phone charger, and flashlight all in one, with the extra option of hand-cranked power to keep things charged even in the dark.

11) Clothes: You only need enough clothes to keep you warm and comfortable for a few days, so don’t try to bring your entire wardrobe. Stick to essentials like underwear, socks, extra shoes, a jacket, a poncho, a hat, and gloves.

12) Food: Focus on high-protein, high-caloric foods that will give you the energy you need to live and get from point A to point B. The most recommended options include, energy bars, MREs (Meals-Ready-to-Eat), freeze-dried survival food, and meal-replacement shakes.

Stay totally safe and secure
While go-bags are a critical part of helping your family survive the immediate aftermath of a natural disaster or other emergency, they’re just a start. For instance, this list doesn’t address any of your precious sentimental items, such as photos, old love letters, and treasured cards from the past. Nor does it mention estate planning documents or insurance policies.

Copies of your insurance policies and estate planning documents should be uploaded to the cloud and stored online. You should also store sentimentals, like family histories and photos online, so you don’t have to worry about packing any of that in the event of a natural disaster. Indeed, safely storing your sentimentals online is so important, we are constantly innovating ways to help our clients do more of this.

Of course, to keep your family totally safe and secure, you’ll need to make sure you have the right insurance coverage and necessary legal documents in place to cover possible emergency contingencies. Contact us if you have questions about what you need or how we can support you.

The recent wildfires in California were devastating to the communities and families affected by them. The threat of earthquake is always present for those of us in the Golden State. Yet despite the danger posed by natural disasters, many California homeowners still lack the insurance needed to protect their property and possessions from such catastrophes.

In fact, roughly two-thirds of all homeowners are underinsured for natural disasters, according to United Policyholders (UP), a nonprofit organization for insurance consumers. One contributing factor to this lack of coverage is the mistaken belief that homeowners insurance offers protection from such calamities. In reality, natural disasters are typically not covered by standard homeowners policies.

In order to obtain protection, you often need to purchase separate policies that cover specific types of natural disasters. Here, we’ve highlighted the types of insurance coverage available and how the policies work.

Wildfires

While homeowners insurance typically doesn’t pay for damage caused by natural disasters, most policies do protect against fire damage, including wildfires like the recent ones in California. The only instances of fire damage homeowners policies won’t cover are fires caused by arson or when fire destroys a home that’s been vacant for at least 30 days when the fire occurred.

That said, not all homeowners policies are created equal, so you should check your policy to make certain that it includes enough coverage to do three things: replace your home’s structure, replace your belongings, and cover your living expenses while your home is being repaired, known as “loss of use” coverage.

In certain areas that are extremely high-risk for wildfires, it can be be difficult to find a company to insure your home. In such cases, you should look into California’s FAIR Plan.

Earthquakes

Unlike fires, earthquakes are typically not covered by homeowners policies. To protect your home against quakes, you’ll need a freestanding earthquake insurance policy.

While earthquake insurance is available throughout the state, policies in high-risk areas (such as on fault lines) typically come with high deductibles. What’s more, though earthquake insurance covers damage directly caused by the quake, some related damages such as flooding are likely not covered. Carefully review your policy to see what’s included—and what’s not.

The threat from flooding is so widespread, Congress created the National Flood Insurance Program (NFIP) in 1968, which allows homeowners in flood-prone areas to purchase flood insurance backed by the U.S. government. To determine the risk for your property, consult FEMA’s Flood Map service center.

Get the disaster coverage you need todayTo make certain you have the necessary insurance coverage to protect your home and belongings from natural disasters, consult with your insurance agent or let us know and we’ll be happy to refer you to one of the trusted insurance advisors we know.

Today, estate planning encompasses not just tangible property like finances and real estate, but also digital assets like cryptocurrency, blogs, and social media. With so much of our lives now lived online, it’s vital you put the proper estate planning provisions in place to ensure your digital assets are effectively protected and passed on in the event of your incapacity or death.

Last week I discussed some of the most common types of digital assets and the legal landscape surrounding them. Here, I offer some practical tips to ensure all your digital property is effectively incorporated into your estate plan.

Best practices for including digital assets in your estate planIf you’re like most people, you probably own numerous digital assets, some of which likely have significant monetary and/or sentimental value. Other types of online property may have no value for anyone other than yourself or be something you’d prefer your family and friends not access or inherit.

To ensure all your digital assets are accounted for, managed, and passed on in exactly the way you want, you should take the following steps:

Create an inventory: Start by creating a list of all your digital assets, including the related login information and passwords. Password management apps such as LastPass can help simplify this effort. From there, store the list in a secure location, and provide detailed instructions to your fiduciary about how to access it and get into the accounts. Just like money you’ve hidden in a safe, if no one knows where it is or how to unlock it, these assets will likely be lost forever.

Add your digital assets to your estate plan: Include specific instructions in your will, trust, and/or other estate planning documents about the heir(s) you want to inherit each asset, along with how you’d like the accounts managed in the future, if that’s an option. Some assets might be of no value to your family or be something you don’t want them to access, so you should specify that those accounts and files be closed and/or deleted by your fiduciary.

Do NOT provide the specific account info, logins, or passwords in your estate planning documents, which can be easily read by others. This is especially true for wills, which become public record upon your death. Keep this information stored in a secure place, and let your fiduciary know how to find and use it.

Limit access: In your plan, you should also include instructions for your fiduciary about what level of access you want him or her to have. For example, do you want your executor to be able to read all your emails and social media posts before deleting them or passing them on to your heirs? If there are any assets you want to limit access to, we can help you include the necessary terms in your plan to ensure your privacy is honored.

Check service providers’ access-authorization tools: Carefully review the terms and conditions for your online accounts. Some service providers like Google, Facebook, and Instagram have tools in place that allow you to easily designate access to others in the event of your death. If such a function is offered, use it to document who you want to have access to these accounts.

Truly comprehensive estate planning

With technology rapidly evolving, it’s critical that your estate planning strategies evolve at the same time to adapt to this changing environment. That’s why your estate plan should include not only your physical wealth and property, but all your digital assets, too.

Thanksgiving, hands down, is my favorite holiday. Ever since I was a little kid, it’s always centered on three of my favorite things: food, football, and family. But this year Yan and I put a little twist on things which made it a unique Thanksgiving. And though it deviated from the “traditional” Thanksgiving I love so much, it was simply my best Thanksgiving ever.

Earlier this year Yan said to me, “I found $400 roundtrip, direct flights to Madrid from LAX; the only catch is, we have to travel during Thanksgiving.” But that also meant Cade and Ella already had a week off from school and quite frankly, when Yan cooks up an adventure, I know it’s going to be awesome – it’s one of the many reasons I married her. Add to that, what sounded like the deal of the century to visit a country none of had ever experienced before and it was a no-brainer.

So, the four of us flew to Madrid the week before Thanksgiving. We spent three-and-a-half days walking and eating our way through that amazing city before catching a train to Seville to do the same thing there for another three days. Then back to Madrid (with a day-trip to Toledo) for our final three days in Spain. We easily walked 8-10 miles each day, stopped into an equal number of tapas bars each day, and spent every minute of each day being with, connecting with, and enjoying each other.

I learned that my daughter is a traveler in her soul. Ella’s spirit of adventure and desire to chase experiences fit perfectly with Yan and me and made her a true joy to travel with.

I reconfirmed that my son is quite possibly the most culinarily adventurous kid in America. There was no Spanish dish he wasn’t up for at least trying, if not devouring, critiquing, and comparing with the other similar dishes we’d tried earlier. He has an amazing palate and an amazing openness to new gastronomic experiences.

And I rediscovered why my wife is my best friend. She is daring, adventurous, loving, supportive, resilient, and up-for-anything. I can’t imagine a better travel companion, in Europe or life.

So we did not eat Turkey on Thanksgiving, didn’t watch football (no soccer doesn’t count even though the Spaniards call it “football”), and we weren’t with extended family – all things that make me look forward to and relish the Thanksgiving holiday. It was just us, eating various unfamiliar tapas dishes, talking and laughing and loving being in a new and fantastic country with one another. I couldn’t have asked for anything more and I’m not sure I’ll ever top it. But I do have a remarkable wife and kids who live for new adventures … so who knows?

I know why I like Thanksgiving so much – it’s an excuse to focus on what life is really all about anyway.

I hope your Thanksgiving was filled with love and laughter and connectedness to the people most important in your life, too.

If you’ve created an estate plan, it likely includes traditional assets like finances, real estate, personal property, and family heirlooms. But unless your plan also includes your digital assets, there’s a good chance this online property will be lost forever following your death or incapacity.

What’s more, even if these assets are included in your plan, unless your executor and/or trustee knows the accounts exist and how to access them, you risk burdening your family and friends with the often lengthy and expensive process of locating and accessing them. And depending on the terms of service governing your online accounts, your heirs may not be able to inherit some types of these digital assets at all.

With our lives increasingly being lived online, our digital assets can be quite extensive and extremely valuable. Given this, it’s more important than ever that your estate plan includes detailed provisions to protect and pass on such property in the event of your incapacity or death.

Types of digital assetsDigital assets generally fall into two categories: those with financial value and those with sentimental value.

Those with financial value typically include cryptocurrency like Bitcoin, online payment accounts like PayPal, domain names, websites and blogs generating revenue, as well as other works like photos, videos, music, and writing that generate royalties. Such assets have real financial worth for your heirs, not only in the immediate aftermath of your death or incapacity, but potentially for years to come.

Digital assets with sentimental value include email accounts, photos, video, music, publications, social media accounts, apps, and websites or blogs with no revenue potential. While this type of property typically won’t be of any monetary value, it can offer incredible sentimental value and comfort for your family when you’re no longer around.

Owned vs licensedThough you might not know it, you don’t actually own many of your digital assets at all. For example, you do own certain assets like cryptocurrency and PayPal accounts, so you can transfer ownership of these in a will or trust. But when you purchase some digital property, such as Kindle e-books and iTunes music files, all you really own is a license to use it. And in many cases, that license is for your personal use only and is non-transferable.

Whether or not you can transfer such licensed property depends almost entirely on

the account’s Terms of Service Agreements (TOSA) to which you agreed (or more likely, simply clicked a box without reading) upon opening the account. While many TOSA restrict access to accounts only to the original user, some allow access by heirs or executors in certain situations, while others say nothing about transferability.

Carefully review the TOSA of your online accounts to see whether you own the asset itself or just a license to use it. If the TOSA states the asset is licensed, not owned, and offers no method for transferring your license, you’ll likely have no way to pass the asset to anyone else, even if it’s included in your estate plan.

To make matters more complicated, though you heirs may be able to access your digital assets if you’ve provided them with your account login and passwords, doing so may actually violate the TOSA and/or privacy laws. In order to legally access such accounts, your heirs will have to prove they have the right to access it, a process which up until recently was a major legal grey area.

Fortunately, through AB-691 (the Revised Uniform Fiduciary Access to Digital Assets Act), California now authorizes a decedent’s personal representative or trustee to access and manage digital assets and electronic communications – as long as it’s clear in your estate plan that you are authorizing this power.

From late payments that were actually made on time to paid debts that are still listed in collections to fake accounts opened in your name by identity thieves, there are all kinds of errors that can end up in your credit report. What’s more, even if the mistakes were made by the banks, lenders, and/or credit bureaus, they have no obligation to fix them—unless you report them.

Given this, it’s vital to monitor your credit score regularly and take immediate action to have any errors corrected. Here, we’ll discuss a few of the most common mistakes found in credit reports and how to fix them.

Finding and fixing errorsThe first step to ensure your credit report stays error-free is to obtain a copy of your report from each of the three major credit-reporting agencies: Experian, TransUnion and Equifax. You can get free access to your reports and even helpful credit monitoring services from companies like CreditKarma.com.

Check each of the reports closely for errors. Some of the most common mistakes include:

Misspellings and other errors in your name, address, and/or Social Security number

Accounts that are mistakenly reported more than once

Loan inquiries you didn’t authorize

Payments inadvertently applied to the wrong account or noted as unpaid, when they were in fact paid

Old debts that have been paid off or should’ve been removed from your report after seven years

Fake accounts and debts created by identity thieves

Filing a dispute
If anything is inaccurate on your report, file a dispute with the credit bureaus as soon as possible. In fact, notifying these agencies is a prerequisite if you eventually decide to take legal action. Note that if a mistake appears on more than one report, you’ll need to file a dispute with each credit bureau involved.

To ensure your dispute has the best chances of success, follow these steps:

Use the appropriate forms: Each credit bureau has different processes for filing a dispute—whether via regular mail or online—so check the particular bureau’s website for instructions and forms. You can find sample letters showing how to dispute credit reports on the FTC and Consumer Financial Protection Bureau (CFPB) websites.

Be absolutely clear: Clearly identify each disputed item in your report, state the facts explaining why the information is incorrect, and request a deletion or correction. If you’ve found multiple errors, include an itemized list of each one.

Provide evidence: It’s not enough to just say there’s a mistake; you should substantiate your claim with proof. Collect all documents related to the account, including account statements, letters, emails, and legal correspondence. Include copies (never originals) of this paperwork, and highlight or circle the relevant information.

Contact credit providers: In addition to the credit bureaus, the CFPB recommends you also contact the credit providers that supplied the incorrect information to the bureaus. Check with the particular company to learn how to file a dispute, and then send it the same documentation to them that you sent to the bureaus.

Review the results of the investigation: Credit bureaus typically get back to you within a month, but their response can take up to 45 days. The response will tell you if the disputed item was deleted, fixed, or remains the same. Disputes basically boil down to whether or not the creditor agrees with your claim or not, and what they say typically goes.

If you’re not happy with the result of the dispute or how the dispute was handled, you can file a complaint with the CFPB, which regulates the credit bureaus. They’ll forward your complaint to the credit provider and update you on the response they receive.

If the credit provider insists the information is accurate, you can provide the bureaus with a statement summarizing your dispute and request they include it in your file, in future reports, and to anyone who received a copy of the old report in the recent past.

Legal action
Finally, if the investigation isn’t resolved to your satisfaction and the inaccurate information in your credit report is causing you harm, contact a trusted attorney to determine if taking legal action would be worthwhile. Your attorney can review the information, and if necessary, help you develop and litigate your case.

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2014-09-10T21:12:45+00:00

Richard N.

Marc is a genuinely good human being. The fact that he's an attorney is a means to an end for helping people, with empathy, and doing the right thing. My wife and I set up our family trust with him for the benefit of our new family. We feel empowered knowing we've taken this important step and having Marc guide us through the process was like having a collaborator on our team ensuring everything was done properly, thoroughly, and with the utmost care. We recommend Marc and call him a friend.

https://garlettlaw.com/index.php/testimonials/richard-n/

After attending an outstanding presentation he did at a local library, my husband and I decided to have a consultation...

Ani J.

Law Offices of Marc G. Garlett - Estate Planning for Parents and Families

5.0

2014-12-01T17:34:59+00:00

Ani J.

After attending an outstanding presentation he did at a local library, my husband and I decided to have a consultation with Marc to see what it would take to get out estate plan and our children's guardianship in order. We had a ton of questions for Marc, and we felt that he really knew his stuff in the way he answered them with ease and authority. We were impressed with the variety of services he offered, and we thought that it would cover all the planning we had hoped to take care of, in one package. Most importantly, the vibe I got from Marc seemed genuine and that was what told my gut to trust in him to handle our affairs. In a matter of weeks, we had gathered together all the documents and information we needed and had a great outline of what we wanted to include. Marc was very good at responding to emails or phone calls in person, and we were able to lay out our trust/estate/child protection plans just as we had hoped. And before I knew it Marc handed us our final binder full of legal documents that we are confident will serve our family well in the years to come. Considering our futures, contemplating the fate of our kids upon our deaths, and the end of life decisions, well...we found it to be emotionally taxing and deeply personal. But Marc's sincerity and knowledge made him a great partner in this process, and we couldn't be more pleased.

https://garlettlaw.com/index.php/testimonials/ani-j/

Marc is extremely knowledgeable and easy to work with. His team recently helped us put together our trust and Child...

Sherry C.

Law Offices of Marc G. Garlett - Estate Planning for Parents and Families

5.0

2014-12-22T12:16:48+00:00

Sherry C.

Marc is extremely knowledgeable and easy to work with. His team recently helped us put together our trust and Child Protection Plan. Life can take unexpected, unpredictable turns. We wanted to ensure that our children will have the kind of lifestyle and opportunities that we always hoped for, even if we could no longer be with them. Thank you Marc!

https://garlettlaw.com/index.php/testimonials/sherry-c/

Ever since we had our first child we said we needed to assign guardians, but we never followed through. It...

Vanessa H.

Law Offices of Marc G. Garlett - Estate Planning for Parents and Families

5.0

2015-02-11T00:07:47+00:00

Vanessa H.

Ever since we had our first child we said we needed to assign guardians, but we never followed through. It was in the back of our minds for a 11 years and 2 more children later. Then we happened to attend a Guardianship Workshop that Marc G. Garlett was offering. After his concise explanation we realized we couldn't wait any longer to take care of such an important matter - who would take care of our children temporarily and permanently if the unexpected happened. After the workshop, we decided to continue with Marc to plan a family trust. It was the best decision we could have made for our family. The peace of mind of knowing our children will be in the hands of those we chose is very important, and knowing our assets will not go into probate is a relief. Marc is professional but also very personable. He took the time to get to know us so he can help make the best family trust. He is upfront about his costs. What he quotes at the first meeting is the actual cost without hidden fees. His staff is friendly, easy to communicate with, puts everything together, and tells you what is needed. We would highly recommend Marc.

https://garlettlaw.com/index.php/testimonials/1374/

Marc G. Garlett is one of the most GENUINE and KNOWLEDGEABLE attorney's you'll meet. He's not only a family man...

Michael A.

Law Offices of Marc G. Garlett - Estate Planning for Parents and Families

5.0

2013-11-20T15:22:32+00:00

Michael A.

Marc G. Garlett is one of the most GENUINE and KNOWLEDGEABLE attorney's you'll meet. He's not only a family man who strongly believes in his work as an estate attorney, but he's also a great business attorney and adviser. HIGHLY RECOMMENDED.

https://garlettlaw.com/index.php/testimonials/michael-alaniz/

Marc G Garlett is a great Attorney I would recommend him to all my friends and family members. He is...

Asif C.

Law Offices of Marc G. Garlett - Estate Planning for Parents and Families

5.0

2013-10-15T02:55:37+00:00

Asif C.

Marc G Garlett is a great Attorney I would recommend him to all my friends and family members. He is the one that you can actually trust.

https://garlettlaw.com/index.php/testimonials/asif-chattha/

Our family has worked with Marc's office and known him personally for many years. He is always available and always...

Matthew F.

Law Offices of Marc G. Garlett - Estate Planning for Parents and Families

5.0

2013-12-12T06:06:07+00:00

Matthew F.

Our family has worked with Marc's office and known him personally for many years. He is always available and always quickly responds whether by phone or by email, and he is proactive in making sure issues get addressed, often before we are even aware of them. It is great to have a personal, knowledgeable family attorney, especially as more and more services move to generic internet sites that don't understand your specific situation. I would highly recommend Marc.

https://garlettlaw.com/index.php/testimonials/m-f/

Marc is helping us get our trust in order, especially now that we have a child. My life is super...

Lori K.

Law Offices of Marc G. Garlett - Estate Planning for Parents and Families

5.0

2013-12-04T02:33:48+00:00

Lori K.

Marc is helping us get our trust in order, especially now that we have a child. My life is super busy, and it's something that's easy to forget. This is not something I want to forget! It's my job to make sure my daughter is protected "just in case." Marc is making the process easy and smooth, and I am grateful.

https://garlettlaw.com/index.php/testimonials/lori-k/

What sets Marc apart is his ability to think out the future. Marc has excellent vision for the needs of...

Monica C.

Law Offices of Marc G. Garlett - Estate Planning for Parents and Families

5.0

2013-11-25T22:21:48+00:00

Monica C.

What sets Marc apart is his ability to think out the future. Marc has excellent vision for the needs of families, especially those with young children. He is proactive in his approach, genuinely cares about the needs of his clients, and is responsive. An absolute pleasure to work with, I highly recommend Marc for estate planning and advise on small business issues.

https://garlettlaw.com/index.php/testimonials/monica-c/

Marc is helping us set up our trust along with the child protection plan. He is approachable and will work...

Tianna T.

Law Offices of Marc G. Garlett - Estate Planning for Parents and Families

5.0

2014-04-15T23:49:49+00:00

Tianna T.

Marc is helping us set up our trust along with the child protection plan. He is approachable and will work around your schedule. He is knowledgeable and interested in protecting our interest. I am glad I have him in my corner.

https://garlettlaw.com/index.php/testimonials/tianna-t/

I met Marc at a small business workshop and my wife and I decided to approach him to set up...

Preston O.

Law Offices of Marc G. Garlett - Estate Planning for Parents and Families

5.0

2014-08-07T23:02:25+00:00

Preston O.

I met Marc at a small business workshop and my wife and I decided to approach him to set up a trust for our kids. Our first meeting convinced us that he was the guy to use for this critical step in securing our kids' future. Three meetings over six weeks made it clear we had made the right choice, as he led us through the details of funding the trust and making sure our heirs would be covered in the event of something happening to us. His style is clear, accessible, friendly, professional, enthusiastic. I have not one reserve about recommending him to anyone needing his advice or services.

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